The Karachi Stock Exchange (KSE) has invited bids for the purchase of membership rights/seats of the KSE from the eligible individuals and corporate bodies, financial institutions/banks (local/foreign). According to a KSE notice, any offer, if accepted shall be subject to the terms and conditions and the membership criteria of the Exchange.
The KSE said that the bids should reach KSE latest by March 19, 2012 up to 5pm along with a pay order for advance payment of 10 percent against the amount offered and drawn in favour of the KSE. In case of non-acceptance of the offer, such amount would be refunded.
The applicant selected for the membership will have to pay the balance amount of their bid within 05 working days from the date of demand by the Exchange, failing which the advance payment will be forfeited by the Exchange, the notice said.